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Wataniya Airways face ‘unexpected’ circumstances forcing suspension: Chairman

Posted by on 04/09/2018
Filed under Business, Kuwait, Other News

Wataniya Airways face ‘unexpected’ circumstances forcing suspension: Chairman

Wataniya Airways face ‘unexpected’ circumstances forcing suspension: Chairman

KUWAIT: Wataniya Airways said yesterday that ‘unexpected and unavoidable circumstances’ have disrupted its operations for the current travel season, forcing temporary suspension of operations. Wataniya Airways “is committed to complying with all decisions and regulations of the Directorate General of Civil Aviation (DGCA), and is keen on offering its services at highest standards,” Ali Al-Fozan, […]

10 years on, crisis mode is normal for central banks

Posted by on 04/09/2018
Filed under Business

10 years on, crisis mode is normal for central banks

10 years on, crisis mode is normal for central banks

Banks still navigating in uncharted territory FRANKFURT: The collapse of US investment giant Lehman Brothers 10 years ago forced central banks to take unprecedented steps to help rescue the global economy, thrusting them into uncharted territory they are still navigating. Acting as firefighters-in-chief, central banks pushed the boundaries of their mandates by deploying a range […]

Boursa Kuwait equities close August trading in red zone

Posted by on 04/09/2018
Filed under Business

Boursa Kuwait equities close August trading in red zone

Boursa Kuwait equities close August trading in red zone

Premier Market index, Main Market index edge down KUWAIT: Boursa Kuwait ended August in the red zone. The Premier Market Index closed at 5,261.82 points, down by 0.66 percent, the Main Market Index decreased by 0.72 percent after closing at 4,897.46 points, whereas the All-Share Index closed at 5,132.31 points down by 0.68 percent. Furthermore, […]

Oman expects oil prices to stay between $70-$80

Posted by on 03/09/2018
Filed under Business

Oman expects oil prices to stay between $70-$80

Oman expects oil prices to stay between $70-$80

DUBAI: Oman’s Oil Minister Mohammed bin Hamad Al-Rumhi said yesterday he expects oil prices to remain between $70 to $80 a barrel this year, Omani news website WAF reported on Twitter. Saudi Arabia, Kuwait and the United Arab Emirates are the only three countries that have the capacity to increase oil production, he said at […]

CMA holds session with investors on bidding process for equity stake in Boursa Kuwait

Posted by on 03/09/2018
Filed under Business

CMA holds session with investors on bidding process for equity stake in Boursa Kuwait

CMA holds session with investors on bidding process for equity stake in Boursa Kuwait

KUWAIT: The Capital Markets Authority’s (“CMA”) advisors, Tri International Consulting Group and KAMCO Investment Company yesterday held a consultation session with local investors to guide them through the next phase of the bidding process for an equity stake in Boursa Kuwait. During the session, the advisors shed light on the next steps of consortium formation […]

Turkey’s central bank promises action as inflation soars to 18%

Posted by on 03/09/2018
Filed under Business, Middle East, World

Turkey’s central bank promises action as inflation soars to 18%

Turkey’s central bank promises action as inflation soars to 18%

Albayrak promises ‘full-fledged fight’ to ensure price stability ISTANBUL: Turkey’s central bank signalled yesterday it would take action against “significant risks” to price stability, a rare move to calm financial markets after inflation surged to its highest in nearly a decade and a half. The comments, seen as presaging an interest rate increase at the […]

Raising fuel prices helped Kuwait make $1.2 billion surplus in two years

Posted by on 02/09/2018
Filed under Business, Kuwait, Other News

Raising fuel prices helped Kuwait make $1.2 billion surplus in two years

Raising fuel prices helped Kuwait make $1.2 billion surplus in two years

Bedoon students banned from joining private universities’ councils KUWAIT: Kuwait achieved financial surplus of $1.2 billion in two years, as the annual surplus is estimated at $600 million based on the price of oil barrel at $60. The surplus in the budget became possible after Kuwait raised gas prices in September 2016 by reducing subsidies […]

Kuwaiti economist explains how Kuwait can benefit from Saudi’s vision in new book

Posted by on 02/09/2018
Filed under Business, Kuwait, Other News

Kuwaiti economist explains how Kuwait can benefit from Saudi’s vision in new book

Kuwaiti economist explains how Kuwait can benefit from Saudi’s vision in new book

Foreign investors seek trustworthy markets governed by modern laws: Salloum KUWAIT: Kuwait Times spoke with Abdullah Al-Salloum, a Kuwaiti economist and author. Recently, he published his book ‘Kingdom of the Vision’, which was a bestseller on both Amazon’s Arabic books and Jamalon, the Middle East’s largest online book retailer. Kuwait Times: Tell us a little […]

China’s ‘Silk Road’ project runs into debt jam

Posted by on 02/09/2018
Filed under Asia, Business, Top Stories, World

China’s ‘Silk Road’ project runs into debt jam

China’s ‘Silk Road’ project runs into debt jam

Xi says project is ‘open and inclusive’, but some countries begin to grumble BEIJING: China’s massive and expanding “Belt and Road” trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt. First announced in 2013 by President Xi Jinping, the initiative also known as the […]

Dollar edges lower as trade tensions ease; US in NAFTA deal with Mexico

Posted by on 02/09/2018
Filed under Business

Dollar edges lower as trade tensions ease; US in NAFTA deal with Mexico

Dollar edges lower as trade tensions ease; US in NAFTA deal with Mexico

Negotiations with Canada hit a roadblock KUWAIT: President Trump announced last Monday that the US and Mexico had reached an agreement on NAFTA (The North American Free Trade Agreement), and suggested that Canada would be excluded from the trade pact if the country did not agree to certain terms. The agreement with Mexico resulted in […]

Turkey hikes gas, power prices by 14%

Posted by on 01/09/2018
Filed under Business, Middle East, Top Stories, World

Turkey hikes gas, power prices by 14%

Turkey hikes gas, power prices by 14%

Inflation running at 14-year high as currency crisis deepens ANKARA: Turkey raised natural gas prices yesterday by as much as 14 percent, two sources said, while the energy regulator announced a similar increase in electricity costs as a deepening currency crisis stokes inflation. The lira has fallen 42 percent against the dollar this year, hit […]

Boursa Kuwait equities mixed amid growing selling pressures

Posted by on 01/09/2018
Filed under Business

Boursa Kuwait equities mixed amid growing selling pressures

Boursa Kuwait equities mixed amid growing selling pressures

Market capitalization reached KD 28.71 billion KUWAIT: Boursa Kuwait ended last week with mixed performance. The Premier Market Index closed at 5,261.82 points, down by 2.23 percent, the Main Market Index increased by 0.06 percent after closing at 4,897.46 points, and the All-Share Index closed at 5,132.31 points down by 1.46 percent. Furthermore, last week’s […]